Thursday, September 12, 2013

Option Open Interest for 12-09-2013

Inference
Nifty opened positive but saw the responsive sellers take charge to move the index down by more than 115 points from the top. A small pullback towards the end saw the index close at 5850.70, a huge loss of 62.45 points. The broader market was just negative, with 639 advances to 693 declines. Based on Option Table, resistance at 6000 strike got better.
  • Call option 6000-6400 added 20.08 lacs huge amount of OI with huge short covering seen at 5800 and below strike price.
  • Put option 5900, 5600-5500 added 8.67 lacs huge amount of OI with profit booking seen at 5700 and 5300 strike prices.
  • Nifty Open Interest is at 1,89,32,600 down by 1,73,150, with huge decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 20,13,725 down by 30,025, with decrease in price, most probably long liquidation.
  • FII’s sold huge 6.17 lacs Futures, mostly short build-up, as their net OI increased by 23355 (includes 65417 longs and 77758 shorts) contracts and the average price per contract comes to around 5719.06.
  • FII’s future open contract as on date is 481928.
  • PCR Open Interest (Volume) is dipping fast and now at 1.508.
  • Initial support still at 5800, with OI now above 36.99 lacs, below that at 5700, with OI of 33.18 lacs.
  • Initial resistance at 5900, with OI of just 33.80 lacs and above that at 6000 with OI of 44.68 lacs.
  • Day Range as per Option Table is 5757 - 5969 and as per VIX is 5760 - 5942 with 5866 as the Pivot.
Option Call for 13-09-2013
Buy Nifty 5900CE above 127 for targets of 154, 179 SL - 118
Buy Nifty 5800PE above 111 for targets of 132, 154 SL - 103

India VIX : 29.71, down by 0.04 points
Call OI : 37925450
Put OI : 57186900
PCR OI : 1.508
SMR : 19.70 (Bullish: Nifty saw correction after 5 continuous days of up move totalling more than 600 points, but Bulls need to come back or else this correction can become a pain for them...)